(PharmaNewsWire.Com, May 28, 2021 ) The report "3D Printing Filament Market by Type (Plastics, Metals, Ceramics), End-Use Industry (Aerospace & Defense, Medical & Dental, Automotive, Electronics), Region (North America, Europe, Asia Pacific, Mea, South America), and region - Global Forecast to 2025", The 3D printing filament market in 2020 is estimated at USD 739 million and is projected to reach USD 2,552 million by 2025, at a CAGR of 28.1% from 2020 to 2025. Rising demand for mass customization across the end-use industries has been the major driver for the growth of the 3D printing filament market in order to provide easy production of complex geometries. FDM/FFF technology is the widely adopted printing method along with low price of printers and materials in comparison to other methods. Furthermore, outbreak of COVID-19 pandemic is anticipated to fuel the consumption of 3D printed products from FDM process in medical applications.
Aerospace & defense segment accounts for the largest share of the 3D printing filament market
The aerospace & defense segment is estimated to lead the 3D printing filament market in 2020 in terms of value, due to the rising demand for lightweight and high strength printing material for mass customization of aerospace components and parts. Aerospace industry was the early adopter of 3D printing technologies for prototyping and commercial production of components and parts made from plastics and metals. Moreover, despite lockdown in several countries and restriction on travel and trasporation, manufacturer of aerospace parts and aircrafts gradually continue to operate their businesses. Although defense industry is a small consumer of 3D printing filaments, however, the industry has an undisrupted supply of filaments for use in prototyping spacecraft components despite the impact of COVID-19 outbreak.
Metals segment is estimated to witness fastest growth in the 3D printing filament market, during the foreast period
Based on type, the metals segment is estimated to witness highest growth in the 3D printing filament market during the forecast period. Properties such as high material strength along with resistance high temperature and lightweight are the factors fueling the adoption of metals in the 3D printing filament market. Various metals such as titanium, stainless steel, and aluminum are widely used in printing complex structures for prototyping and manufacturing objects for industries such as aerospace and automotive. Aerospace industry, an early adopter of 3D printing materials and technology, is the largest consumer of metal filaments in the 3D printing filament market. Increasingly stringent environmental guidelines across developed and developing economies for the use of plastics, have accelerated the adoption and growth of metal filaments in the production of 3D printed objects used in education and consumer goods.
Asia Pacific is expected to witness the fastest growth in the 3D printing filament market during the forecast period
The 3D printing filament market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, Japan, India, and South Korea are estimated to be the fastest growing markets in the region for 3D printing filament during the forecast period. China and Japan were the largest consumers of 3D printing filaments in the Asia Pacific region in 2019. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Autralia, and India has caused a trivial decrease in the consumption of 3D printing filaments. However, 3D printing filaments are widely being used in medical industry to meet the urgent demand from hospitals and other healthcare centers.
Key market players covered in this report includes Stratasys Ltd. (US), 3D Systems Corporation (US), Koninklijke DSM N.V. (Netherlands), Materialise NV (Belgium), Evonik Industries AG (Germany), Arkema SA (France), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), DuPont de Nemours, Inc. (US), BASF 3D Printing Solutions GmbH (Germany), HP Inc. (US), EOS GmbH - Electro Optical Systems (Germany), Shenzhen Esun Industrial Co., Ltd. (China), CRP Technology S.r.l. (Italy), EnvisionTEC GmbH (Germany), Oxford Performance Materials, Inc. (US), and MG Chemicals (Canada), among others.
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